Petrominerales Receives Approval of Bond Extension

CALGARY, ALBERTA--(Marketwired - July 5, 2013) - Petrominerales (TSX:PMG) (BVC:PMGC) announces that at today's properly and validly constituted meeting of bondholders of Petrominerales' 2.625 per cent Senior Unsecured Convertible Bond Issue 2010/2016, issued by our indirect wholly-owned subsidiary Petrominerales Bermuda Ltd., quorum was present, and bondholders unanimously voted in favour of the proposed amendments to the bond agreement, as previously announced by Petrominerales on June 20th and June 25th, 2013.

ABG Sundal Collier Norge ASA ("ABG") acted as financial advisor to Petrominerales for this extension.

Petrominerales Ltd. is an international oil and gas company operating in Latin America since 2002. Our high-quality land base and multi-year inventory of exploration and development opportunities in Colombia, Perú and Brazil provide long-term growth potential for years to come.

Forward-Looking Statements and Cautionary Language. Certain information provided in this press release constitutes forward-looking information. Specifically, this press release contains forward-looking information relating to the calling of the Bondholders' Meeting and the Company's intention and ability to satisfy the Bondholders' Put Option in the event the amendments to the Bond Agreement are not approved at the Bondholders' Meeting. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. You can find a discussion of some of those risks and uncertainties in our Canadian securities filings. Except as may be required by applicable securities laws, Petrominerales assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.